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5 Classic Mistakes that cause Slow Business Growth

Slow GrowthAs entrepreneurs and business owners, we are often the biggest visionaries in our business, yet we are also our own worst enemies.

You know what I mean, don’t you?

We get in the way of our own success and we sabotage our own efforts to reach our fullest potential.

I have been working in business for the past 13 years, and I’ve learned some amazing things about what it takes to grow a profitable and sustainable business. I’ve also learned about the mistakes that stunt business growth and in some cases cause businesses to outright fail. If you are a business owner like me, I guarantee that you and I have made some similar mistakes.

In the spirit of using the phrase “Hindsight is 20/20” as a proactive strategy rather than a retrospective wish, I want to share with you five common mistakes that cause slow business growth. Prevent these mistakes from negatively impacting your business today, so that you don’t look back on your business in the future with regrets of wishing you had done things differently.

1. Listen to your inner critic. This is huge! If we let our subconscious mind chatter take over, we sabotage ourselves from getting on with what we need to do. So, understand what your particular gremlins are, then make a different decision. You have a choice. You can either let those gremlins hold you back or you can use them as a tool to catapult you forward.

2. Flying solo. The death of the entrepreneur is solitude. There isn’t one successful business owner who has made it on his or her own. Assemble your tribe of champions, advisors, referral partners, mentors, alliances and coaches. When you do, you’ll wonder why you tolerated being on your own for so long!

3. Do it all. Have the courage to fire yourself from jobs in your business that you shouldn’t be doing. If you don’t know anything about bookkeeping, hire a bookkeeper. It will cost you less time and money to outsource this function rather than attempt to learn it yourself. You won’t do it as well as a professional can, anyway.

4. Try a little bit of everything. This is another big one! Most companies aren’t sure how to market and grow their business so they do a little bit of everything. A little networking. A little newsletter. A little advertising… Only to find out that very little works. If you choose three business development tools and use them religiously on an ongoing basis, they will start to grow opportunities at a surprising rate.

5. Avoid it. Have you noticed that when you ignore things, they just don’t seem to go away, in fact they kind of get worse?! The same logic applies in business. I have a client who resists looking at her revenue figures because she says it’s too discouraging. Well, the revenue isn’t just going to start appearing out of nowhere, so those numbers are going to continue to look bleak as long as you keep avoiding them. Get comfortable with the uncomfortable, and you’ll start seeing exponential results.

I want to hear from you! What are some of the mistakes you are consciously aware of making in your business, and how do you deal with them? Please leave your comments below.

I am passionate about supporting women entrepreneurs to focus their efforts on the marketing activities that will predictably and consistently increase their bottom line and catapult their business growth. I use a proven, strategic growth model specifically developed for women in business to track, measure and manage results.  If you’re ready to take your business to the next level, take immediate action and connect with me for a complimentary consult.

About Michela Quilici

International Business Growth Coach, Award-winning Marketing Strategist, Best-Selling Author, Forbes Coaches Council, and Global Leader at Women Speakers Association. Known as a Business Navigator, Michela works with growth-minded business owners, service professionals and CEOs who want to accelerate growth and scale their business, while building a business aligned to who they are.

She is passionate about creating roadmaps that ignite leaders to take inspired action to navigate their growth on purpose using strategy, systems and self-leadership, so they can get noticed, get clients and get profitable.